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Current Macroeconomic Situation Essay

537 words - 3 pages

Americans and their profits

Content

Introduction…………………………………………………………………page 1
Market power ……………………………………………………………..page 2
Antitrust …………………….………………………………………………..page 2
Conclusion …….……………………………………………………………..page 3
References ……………….…………………………………………………..page 3

introduction
Throughout history many immigrants have left their countries to come to America for the American dream to be successful and become rich and have a business. As many of this business develop a lot of corruption began to happened with price fixing, monopoly pricing, market power, monopoly structure, and much more. During the early years of paramount motion picture which was owned by Adolph Zukor, Jesse L. Lasky, and W. W. Hodkinson there were only few major motion picture companies in the market and within time they had monopolized some cities in the US.
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Paramount had lost a lot of profits because of the regulation by the government to allow other companies to also show motion pictures. I agree that what the government did was right by interfering with paramount because this ended all their monopolies and giving other people the chance to make a profit.
Antitrust
The antitrust lawsuits began by 1940’s when paramount had total control of Detroit chains of theaters, paramount agreed to a government-instituted consent decree: block booking and "pre-selling" (the practice of collecting up-front money for films not yet in production) would end. Immediately Paramount cut back on production, from seventy-one pictures to a more modest nineteen annually. One of paramount main goals were to expand and become the largest motion picture company which till this day they are but not in total control of the market. It is all equally divided into many companies like 20th century fox, universal studios, and many more.
Conclusion
I agree with all the actions that government took to regulate paramount pictures because that allow them to stop fixing prices on entertainment allowing it to be more flexible and give room for some competition. Many other small companies began to grow and also allowing for employment rate to go up and new entrepreneurship to be made, as time goes on paramount pictures still remains as one of the huge motion companies to still remain in business which annually make around 1.2 billion dollars.

References
Paramount article devry library source
http://eds.b.ebscohost.com/eds/detail/detail?vid=16&sid=34a4a1f5-7713-4fda-aad0-574ec1b04f8b%40sessionmgr113&hid=122&bdata=JkF1dGhUeXBlPXVybCxjb29raWUsaXAsdWlkJnNpdGU9ZWRzLWxpdmU%3d#db=bth&AN=49141500)
(more information on paramount pictures about its growing history and encounters)
http://en.wikipedia.org/wiki/Paramount_Pictures#1911.E2.80.931920:_Early_history
(book source on terms ) http://devry.vitalsource.com/#/books/0077587766/content/element/55977?locs[]=115-5&locs[]=121-6&q=Price+Fixing+

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